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Basically season 8 never happened but a LOT of Klance happened.
Bonus:
Allura never died. Matt still has long hair. Adam was found. Hunay, Veracxa, Romelurra and Adashi happened. Shiro is a teacher at the Garrison. Hunk owns a restaurant. Coran telling weird stories to children. Kosmo still best boy. Keith meeting Lance's family. Adashi wedding. AND EVERYONE IS HAPPY!!! (I concentrate a little bit more on Klance than anything else, I think)

This story is also on Ao3 with the same name as here. (My name on Ao3 is allPanicAnd_noDisco)